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TODAY'S OTHER NEWS

Sales market - biggest rise in new listings for at least 18 months

May saw the highest number of new sellers list their properties in any single month for at least 18 months, claims an agency.

The claim - made on the basis of figures from 100 major UK towns and cities - comes from HouseSimple which says 73,577 new properties were marketed by all estate agents in those locations in May compared to 68,500 in April.

This represents a 7.4 per cent increase and is the largest monthly figure since the firm started collating the data at the beginning of 2017.

Some 79 of the 100 towns and cities saw new stock levels rise in May; two areas in the south east - Chichester and Oxford - experienced the biggest uplift. 

But London remains a challenge and its new property listings were down slightly on the UK average, with supply rising 5.9 per cent in May. Haringey and Kensington & Chelsea both saw new stock up more than 18 per cent last month, however.

“Although market conditions were a little subdued in the early part of May, there was a noticeable pick-up in activity in the second half of the month” says Sam Mitchell, HouseSimple chief executive.

“Buyers are showing real intent to purchase at the right price, especially with no sign of an interest rate rise on the horizon and some attractive mortgage deals on offer.”

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